Last $0.05 USD
Change Today 0.0001 / 0.21%
Volume 26.6K
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As of 8:10 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

cortex pharmaceuticals inc (CORX) Snapshot

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cortex pharmaceuticals inc (CORX) Details

Cortex Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of pharmaceuticals for the treatment of neurological and psychiatric disorders. The company is involved in developing AMPAKINE compounds, which are novel small molecule compounds that modulate AMPA-type glutamate receptors, a complex of proteins involved in the communication between nerve cells in the mammalian brain. It focuses on the prevention of respiratory depression in post-surgical patients treated with anesthetics, analgesics, or sedatives; and respiratory depression risks related to chronic opioid therapy, without impacting the pain relief provided by the opioids. The company’s lead clinical compounds in Phase II clinical trial comprise CX717 for the treatment of adult patients with attention deficit hyperactivity disorder; and CX1739 for the treatment of sleep apnea. It is also developing AMPAKINE compounds for the treatment of Alzheimer’s disease, mild cognitive impairment, schizophrenia, and depression. The company was formerly known as X-Age, Inc. and changed its name to Cortex Pharmaceuticals, Inc. in August 1988. Cortex Pharmaceuticals, Inc. was founded in 1987 and is based in Glen Rock, New Jersey.

6 Employees
Last Reported Date: 08/16/12
Founded in 1987

cortex pharmaceuticals inc (CORX) Top Compensated Officers

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Executives, Board Directors

cortex pharmaceuticals inc (CORX) Key Developments

Cortex Pharmaceuticals Inc. Announces Resignation of Moogak Hwan from the Board of Directors

On September 30, 2013, Dr. Moogak Hwang notified the Board of Directors of Cortex Pharmaceuticals Inc. of his decision to resign from the Board of Directors effective as of September 30, 2013.

Cortex Pharmaceuticals Inc. Management Changes

On April 29, 2013, Cortex Pharmaceuticals Inc. held a duly noticed telephonic meeting of its Board of Directors in which all directors of the company participated. Among the actions taken by the Board at the meeting, the Board, by unanimous vote, expanded the size of the Board from three to seven and further resolved to fill one of the vacancies created by that expansion, as permitted under the company's Bylaws, with Robert N. Weingarten. Mr. Weingarten was also appointed as a Vice President and the Chief Financial Officer of the Company, to serve until the next annual meeting of the Board of Directors. Mr. Weingarten, is an experienced business consultant and advisor with an ongoing consulting practice. Since 1979 he has provided financial consulting and advisory services to numerous public companies in various stages of development, operation or reorganization. On July 8, 2010, Mr. Weingarten was appointed to the board of directors of Central African Gold Limited.

Cortex Pharmaceuticals Inc. Announces Executive Changes

On March 22, 2013, Cortex Pharmaceuticals Inc. has received an action by written consent of stockholders holding a majority of the company’s common stock signed by Origin Ventures II LP, Illinois Emerging Technologies Fund, LP, Illinois Ventures LLC, Samyang Optics Ltd., Samyang Value Partners Co. Ltd., Steven Chizzik, Kenneth M. Cohen, Peter Letendre, David W. Carley and Aurora Capital LLC (the ‘Written Consent’) (i) removing Charles J. Casamento, Ross Johnson, John F. Benedik and Mark Varney from their positions as directors of the company and (ii) appointing each of Arnold S. Lippa, Ph.D and Jeff E. Margolis to fill the vacancies created, each to hold such office until the next annual meeting of the stockholders and until their successors have been duly elected and qualified. Following the delivery of the Written Consent, the Board of Directors, acting by unanimous written consent dated March 22, 2013, removed all officers of the company and appointed Dr. Lippa, age 66, as Chairman of the Board, President and Chief Executive Officer and Mr. Margolis, age 57, as Vice President, Treasurer and Secretary. Dr. Lippa is a Senior Managing Director and founder of T Morgen Capital LLC through which he administers his family’s assets. Dr. Lippa and Mr. Margolis jointly manage, since 2004, Atypical BioCapital Management LLC and Atypical BioVentures Fund LLC, a life services fund management company and venture fund, respectively.


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